CX Institutional Buys 94,926 Shares of Leidos Holdings, Inc. $LDOS

Key Points

• CX Institutional increased its Leidos stake by 12,077.1% in the third quarter, buying 94,926 additional shares to own 95,712 shares worth approximately $11.7 million. Institutional investors collectively own 76.12% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $160.29. Recent target changes ranged from $138 to $170, while two Leidos directors sold shares in August and September.
• Leidos shares recently traded at $117.84, well below their 52-week high of $205.77. The company beat quarterly earnings and revenue expectations, increased its quarterly dividend to $0.43 per share, and authorized a buyback of up to 20 million shares.

CX Institutional lifted its stake in Leidos Holdings, Inc. (NYSE:LDOS - Free Report) by 12,077.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,712 shares of the aerospace company's stock after buying an additional 94,926 shares during the period. CX Institutional owned approximately 0.08% of Leidos worth $11,661,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LDOS. Envestnet Portfolio Solutions Inc. lifted its position in shares of Leidos by 4.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 55,865 shares of the aerospace company's stock worth $5,752,000 after purchasing an additional 2,373 shares in the last quarter. State Street Corp increased its stake in Leidos by 2.6% during the 2nd quarter. State Street Corp now owns 6,277,845 shares of the aerospace company's stock worth $646,430,000 after buying an additional 161,407 shares during the period. Security National Bank of Sioux City Iowa IA lifted its holdings in Leidos by 30.6% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 21,836 shares of the aerospace company's stock worth $2,248,000 after buying an additional 5,120 shares in the last quarter. SVB Wealth LLC boosted its position in Leidos by 9.5% in the 2nd quarter. SVB Wealth LLC now owns 23,332 shares of the aerospace company's stock valued at $2,402,000 after buying an additional 2,023 shares during the last quarter. Finally, Community Bank N.A. grew its stake in shares of Leidos by 100.1% during the second quarter. Community Bank N.A. now owns 10,805 shares of the aerospace company's stock valued at $1,113,000 after acquiring an additional 5,405 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company's stock.

Analyst Ratings Changes

LDOS has been the topic of several recent analyst reports. UBS Group boosted their price target on Leidos from $124.00 to $138.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price objective on Leidos from $210.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada dropped their price objective on Leidos from $180.00 to $170.00 and set an "outperform" rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised Leidos from a "hold" rating to a "buy" rating in a research report on Thursday, July 16th. Finally, Truist Financial reduced their target price on Leidos from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $160.29.

Insiders Place Their Bets

In other news, Director Gary May sold 1,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $140.85, for a total value of $140,850.00. Following the transaction, the director directly owned 10,204 shares in the company, valued at approximately $1,437,233.40. This trade represents a 8.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Noel Geer sold 10,000 shares of Leidos stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.66, for a total transaction of $1,406,600.00. Following the completion of the transaction, the director directly owned 34,274 shares of the company's stock, valued at $4,820,980.84. This trade represents a 22.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

Leidos Stock Performance

Shares of LDOS traded down $4.13 during mid-day trading on Friday, hitting $117.84. The stock had a trading volume of 892,144 shares, compared to its average volume of 1,318,505. The company has a market cap of $14.79 billion, a PE ratio of 10.99, a PEG ratio of 1.36 and a beta of 0.58. The company's fifty day simple moving average is $130.85 and its two-hundred day simple moving average is $131.19. The company has a quick ratio of 1.60, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. Leidos Holdings, Inc. has a fifty-two week low of $98.86 and a fifty-two week high of $205.77.

Leidos (NYSE:LDOS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The aerospace company reported $3.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.35. Leidos had a return on equity of 30.81% and a net margin of 7.80%.The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business earned $3.21 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Leidos Holdings, Inc. will post 12.28 earnings per share for the current year.

Leidos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.43 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.72 annualized dividend and a yield of 1.5%. Leidos's payout ratio is presently 16.04%.

Leidos declared that its board has approved a stock buyback plan on Friday, July 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Leidos Company Profile

Leidos Holdings, Inc is a technology, engineering and services company that provides solutions to government and commercial customers. The company operates primarily in the defense, intelligence, civil and health markets, supporting customers with mission-critical systems, digital modernization, cybersecurity, data analytics and technical services.

Its offerings include defense and intelligence technologies, command-and-control systems, transportation and infrastructure solutions, health information technology, aviation and security services, and scientific and engineering support.

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